Commercial Applications
The term marketing mix refers to ……………
- An analysis of micro and macro environment of the organization
- A mixture of various decisions to sell more products at any cost
- A customer relationship for long term profit and gain
- A combination of strategic elements to satisfy market needs
Marketing Mix
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Answer
A combination of strategic elements to satisfy market needs
Reason — Marketing mix refers to the combination of four basic elements (product, price, place and promotion) which constitute the core of a company's marketing system. The basic purpose of marketing mix is to satisfy the needs and wants of customers in the most effective manner.
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Related Questions
…………… refers to the pathway, path or route taken by goods as they flow or move from the point of production to the point of consumption or use.
- Channel of distribution
- Direct marketing
- Intensive distribution
- None of these
Which of the following is/are correct statement(s)?
Statement 1: Parity pricing is an appropriate strategy when there is little competition and product differentiation.
Statement 2: Cost-plus pricing is used when a firm wants to cover its costs and achieve a reasonable profit margin.
- Only Statement 1 is correct.
- Only Statement 2 is correct.
- Both statements are correct.
- Both statements are incorrect.
The skimming, penetration, parity are decided in which of the marketing mix strategy?
- Price Decisions
- Place Decisions
- Product Decisions
- Promotion Decisions
Typically profit is negative in which stage of the product life cycle?
- Growth
- Maturity
- Introduction
- Decline